Environmental Defense Fund (EDF) is ready to announce the launch of the California Fisheries Fund (CFF), which grants first loans for eco-friendly fishing businesses in California. CFF is a $5 million, first-of-its-kind revolving loan program to rebuild California’s fishing communities and to develop eco-friendly fishing.
CFF also said to announce its first three loans, which collectively support a vertically integrated fish-to-consumer supply chain that extends from fishermen to dockside unloader and buyer to seafood distributor. Michael DeLapa, manager of the CFF said that without the California Fisheries Fund, these fishing businesses probably wouldn’t get loans, and without loans, the entire seafood supply chain, starting with the fishermen, can’t make the necessary investments to make fishing more sustainable.
It is fact the demand for sustainable seafood is growing each day and concerns grows for ocean life and habitat and for the people whose livelihoods depend upon the sea. Large retail chains and food service providers are providing sustainable seafood when possible. It is said that the CFF provides needed capital to fishermen and businesses that face additional barriers because the experimental methods they use to catch fish and protect the environment are considered risky by lenders.
CFF’s first loans are in Morro Bay because fisheries managers and fishermen made significant improvements in management and commitments to environmentally friendly business and fishing. California Natural Resources Secretary Mike Chrisman opined that with a rising demand for safe, healthy and environmentally-friendly seafood from around the world, it is vital that we support our local fishermen and businesses that have the ability to bring these fish to market.
